Going far with Frequent flyer credit cards

An enduring, successful scheme has been frequent flyer credit cards.

Simply put, these cards allow you to earn reward points as you make purchases on your credit card, and are in turn redeemable for a number of goods and services.

One of the most common and popular ways to redeem frequent flyer points is to exchange them directly for airfare tickets. There is a big range in the points cost and types of flights that can be booked, and they are often subject to certain restrictions. For example, the airline will normally only allow a certain number of frequent flyer point tickets on each flight.

To give you some idea of the points cost, you can currently get a one-way ticket from Melbourne to New York for 64000 points.

If travelling is not your thing, you will be pleased to know that there are many other ways to happily spend your frequent flyer points. Popular options include purchasing electronic goods (think home audio systems and gaming units), fashion items (latest sweater and jeans from top brands) and even fitness accessories (treadmills and heart rate monitors are two examples).

Earning points is pretty straightforward – simply use the credit card as part of your daily life and you will quickly accumulate points.Sometimes bonus points will be on offer, and are often even awarded simply for signing up.